Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Lowered to C$85.00 at National Bankshares

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective trimmed by National Bankshares from C$87.00 to C$85.00 in a research note released on Wednesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other equities analysts also recently commented on the stock. BMO Capital Markets upped their price objective on shares of Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research note on Monday, March 4th. Raymond James upped their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the company a strong-buy rating in a research note on Monday, January 8th. Royal Bank of Canada increased their price target on shares of Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the stock an outperform rating in a research note on Friday, March 1st. TD Securities decreased their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research note on Wednesday. Finally, Desjardins increased their price target on shares of Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the stock a buy rating in a research note on Friday, March 1st. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Granite Real Estate Investment Trust currently has a consensus rating of Buy and an average price target of C$87.33.

Granite Real Estate Investment Trust Stock Performance

Shares of TSE:GRT.UN opened at C$69.24 on Wednesday. The company has a market cap of C$4.39 billion, a price-to-earnings ratio of 32.06 and a beta of 1.14. The company has a 50-day moving average price of C$74.37 and a 200-day moving average price of C$72.96. The company has a current ratio of 0.40, a quick ratio of 1.61 and a debt-to-equity ratio of 58.81. Granite Real Estate Investment Trust has a 12 month low of C$62.72 and a 12 month high of C$86.07.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 15th were issued a $0.275 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date was Wednesday, March 27th. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 152.78%.

About Granite Real Estate Investment Trust

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.